Integration of Tyche into Aon's existing solutions will better
enable re/insurers to rethink access to capital
LONDON,
March 1, 2022
/PRNewswire/ -- Aon plc
(NYSE: AON), a leading global professional services
firm, today announced it has acquired actuarial
software platform Tyche from technology and software firm RPC
Tyche. The transaction significantly expands Aon's existing
capabilities to help re/insurer clients rethink access to capital
and make better business decisions.
The acquisition of Tyche will enable Aon to offer
re/insurers a single technology platform with the ability to
seamlessly integrate capital modelling, pricing and reserving to
drive better decision-making across both life and non-life
business.
Nick Frankland, chairman of
Aon's insurance consulting team, said: "This innovative new
offering, combined with our existing global capabilities, will help
to bring significant value to Aon's re/insurer clients and deliver
new software and consulting solutions to previously underserved
markets. As our clients face increasingly complex
risks and evolving regulatory requirements, Tyche's expertise is
designed to underpin insurers' decision-making frameworks. We are
thrilled to welcome Tyche's nearly 140 colleagues to Aon as we
share a commitment to innovating on behalf of clients."
Tyche, a specialist in developing customized risk and
capital modelling software for actuaries, quantitative analysts and
risk teams, serves global clients that include some of the largest
life, non-life, and composite insurers and pension firms, as well
as leading professional services providers.
Alun Marriott, managing
partner of Tyche, said: "Tyche has built a highly respected and
utilized range of risk and capital modelling platforms and
consultancy services, and combining with Aon can take us to the
next level in terms of capabilities, distribution and delivery. By
uniting our passion for technology-driven insight, we will bridge
gaps and enhance solutions to benefit clients."
The terms of the acquisition were not
disclosed.
Read more about Aon's and Tyche's solutions
here.
About Aon
Aon plc
(NYSE: AON) exists to shape decisions for the better — to
protect and enrich the lives of people around the world. Our
colleagues provide our clients in over 120 countries with advice
and solutions that give them the clarity and confidence to make
better decisions to protect and grow their business.
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here.
Aon UK Limited is authorised and regulated by the
Financial Conduct Authority for the provision of regulated products
and services in the UK. Registered in England and Wales. Registered number: 00210725. Registered
Office: The Aon Centre, The Leadenhall Building, 122 Leadenhall
Street, London EC3V 4AN. Tel: 020
7623 5500. FP13028-AD
About RPC Tyche
RPC Tyche is the
technology software and consulting company behind the award-winning
software Tyche, recently announced as Actuarial Software of the
Year by Insurance ERM. Our services are used by some of the largest
life, non-life, composite and pension firms, as well as leading
professional services providers, which benefit from the market
disruption our ground-breaking capabilities give them. Our
headquarters are in the City of
London and we have offices in Paris, Brussels and the
United States of America.
Aon Media Contact
Andrew Wragg
andrew.wragg@aon.com
+44 (0) 7595 217168
mediainquiries@aon.com
Toll-free (U.S., Canada and
Puerto Rico): +1 833 751 8114
International: +1 312 381 3024
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SOURCE Aon plc